Business travel

Chinese business travel

The Chinese businessman hits the road

CHINA will be the world's biggest business-travel market by 2015, according to the Global Business Travel Association (GBTA). Chinese GDP is expected to grow by 8.2% this year and by 8.9% in 2013, and the GBTA reckons spending on business travel will rise even faster—by 17% (to $202 billion) this year, and by 21% (to $245 billion) in 2013. With business-travel spending growing more slowing in the US, the American market could be overtaken by the Chinese in the next few years.

Michael McCormick, the chief operating officer of the GBTA, confirmed the reason for the rise: “We forecast significant increases in business travel by Chinese citizens over the next two years with at least two-thirds of the growth being real increases in trips and spending as opposed to rising travel prices.”

The Chinese government certainly seems to be doing its bit to encourage business travel. As we noted in November, under the terms of its 2011-2015 five-year plan China will spend in the region of 1.5 trillion yuan ($237 billion) on airports, with plans to expand 91 of its 175 current facilities and to build another 56. Combine that with the 8,000 km of new high-speed rail track due to be laid by 2015 and you have a country where the needs of the business traveller are being met in a way that could make many in the West rather jealous.

Heavily populated China once called a poor country,but today it compets with other developed countries.Like Japan they have come up working hard. They love their country. They have captured the electronic market very rapidly,gadgets like mobiles,TVs and many other sophisticated electronic products are available all over the world and that too cheap.Once upon a time people were afraid to go to China but now every one wants to go to China!